Investor companies worth less

The net asset value of the Wallenberg family's holding company Investor was 140 billion kronor, or 183 kronor per share, at the end of the second quarter, according to a report released on Tuesday.

The figure is down on the value of the company at the end of March, but still up from its value at the beginning of the year, when it was worth 134 billion kronor.

The company’s income was down on the same period last year. Consolidatated net income was 9 billion kronor, compared to 21.3 billion in the second quarter of 2005.

The company’s core investments had an impact of 10 billion kronor on net income over the first two quarters compared with 17.5 billion in the first half of 2005.

Engineering company ABB had the largest impact, contributing 2.86 billion. AstraZeneca and Atlas Copco also had a significant effect, with an impact of 2.8 and 2.6 billion respectively.

Ericsson dragged down the total, costing the company 2.6 billion in the first six months of the year.

Investor also owns major stakes in companies including Husqvarna, Electrolux and mobile phone company 3 Scandinavia.


Sweden Investor group posts sharp profit drop

Swedish investment giant Investor on Wednesday said its first-quarter profits slumped by a quarter, underlining Sweden's vulnerability to international instability.

Sweden Investor group posts sharp profit drop
File photo: Simon Cunningham/Flickr
From January to March 2014 the group – one of the largest investors in Nordic-based multinationals including Saab, Atlas Copco and Ericsson —
reported a 25 percent drop in profits from a year earlier to 12.14 billion kronor ($1.85 billion).
However the group's net asset value, at 227,584 billion kronor grew by 5.6 percent compared to the previous quarter.
Founded over a century ago by the Wallenberg family, the Investor group is often seen as a barometer for the economic health of Sweden, given the large number of indigenous companies which are partly owned by the group.
Among its main investments are engineering company Atlas Copco (16.8 percent share), SEB bank (20.8 percent), the Swiss-Swedish engineering and
robotics firm ABB (8.1 percent) and the white goods group Electrolux (15.5 percent).
Group president Börje Ekholm said in a statement that current geopolitical uncertainty "will increase the uncertainty for our export companies".
The groups shares were down 0.7 percent in late afternoon trading on the Stockholm Stock Exchange in an overall market down 1.2 percent.